Gardaí are quizzing two men after officers seized up to seven stolen cars in a shed in Co Meath.
Detectives are also trying to trace the owners of four other vehicles they found on an isolated farm between Navan and Slane.
The operation was carried out yesterday by members of the Meath Division Drugs Unit, backed by local officers from Navan.
The two men, aged 22 and 26 respectively, are being questioned under Section 4 of the Criminal Justice Act and can be held for 24 hours.
A 22-year-old woman was also arrested but was later released without charge. A file will be sent to the DPP on the matter.
Gardaí had been carrying out a surveillance operation for several days before the raid was launched on the rented shed in Craig's Lane on Monday evening.
Sources said the high-value vehicles, including makes such as BMW and Mercedes, may have been stolen from areas of Co Meath and Co Dublin in recent months.
Gardai suspect that criminals wanted to dismantle them and sell on the car parts.
"Seven of the 11 vehicles have been confirmed as stolen, and officers are checking the status of the other four vehicles," said a Garda spokeswoman.
"Investigations are ongoing as part of the operation."